The Bank of the Republic of Colombia has announced the implementation of Bre-B, an innovative system of prompt payments that promises to transform the way in which the colombian perform transfers and electronic payments. This system seeks to facilitate transactions fast, secure and free of charge between different financial institutions, operating 24 hours a day, 7 days a week, including weekends and holidays.
What is Bre-B?
Bre-B is the label that will identify the interoperability of Payment Systems of Low-Value Immediate in Colombia. Your main goal is to allow any person or business can send and receive money immediately, regardless of the financial institution at which your account or electronic deposit. This is achieved through an infrastructure that connects and channel operations between the different financial systems of the country.
This system seeks to offer an alternative to agile to bank transfers-traditional, by reducing the friction in the payments and improving the experience of users to perform electronic transactions. To ensure interoperability between diverse financial institutions, Bre-B becomes a key element for the modernisation of the financial system in colombia.
How are the “Keys”?
To facilitate transactions, Bre-B introduces the concept of “Key”. A Key is a unique identifier that the user chooses to receive money in your account or electronic deposit. These Keys can be:
- Number of identity document.
- Mobile phone number.
- E-mail.
- Alphanumeric identifier that is generated by the financial institution.
Businesses can also use its trading code assigned by the institution where they have their means of payment as Key. It is possible to bind multiple Keys to a single account, but a Key can not be linked to more than one account or electronic deposit.
This functionality improves the convenience and accessibility of e-payments, eliminating the need to remember account numbers long and allowing transactions faster and more efficient.
The Benefits of Bre-B
The implementation of Bre-B brings multiple advantages that will benefit both users and businesses in Colombia. Among the main benefits include:
- Immediacy: Transfers are performed in seconds, eliminating the wait times of traditional.
- Availability: Operating 24/7, including weekends and holidays.
- Free: The transactions have no cost to users.
- Ease of use: When using Keys simple as the cellular phone number or e-mail, simplifies the process of sending and receiving money.
- Interoperability: Allows transfers between different financial institutions without complications.
- Increased security: To reduce the dependence of the effective reduces the risk of theft and fraud.
- Impetus to financial inclusion: It facilitates the access of more people and businesses to the ecosystem formal financial.
The combination of these features makes Bre-B-as an innovative solution that will transform the way in which the colombian people manage their money in the digital age.
Implementation and availability
It is expected that Bre-B is available in the digital channels of the participating financial institutions as of the second half of 2025. During its implementation, the financial institutions in iran adapting their platforms to integrate this system, allowing users to register their Keys and start using it progressively.
The authorities expect that this solution will not just provide daily transactions, but also boost the digitization of money in the country, promoting the reduction of the use of cash and to strengthen the digital economy in Colombia.
With Bre-B, Colombia gives a significant step forward in the modernization of its financial system, promoting financial inclusion and reducing the barriers to adoption of electronic payments. The ease of use, immediacy, and free makes this system a key partner for the digital transformation of the country.
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